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10 Dec 2008

Intraday Trading strategy ONGC, Tata Steel, Reliance: 10 Dec

1. As a day trading strategy one can short at higher levels in ONGC. ONGC has support at Rs 612 and faces resistance at Rs 735.

2. One can exit is steel stocks which are seeing trading rallies now and endeavour should be to book profit in rally as this sector will remain subdued in India till Sep 2009.

3. Reliance Industries faces resistance at Rs 1,180-1,200 and stock enjoys support at Rs 1,030-1,035.

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